DOHA, Qatar, Wednesday, November 10th 2010 [ME NewsWire]:
QInvest, Qatar’s leading investment bank, has acquired a 28% stake in Asian Business Exhibition & Conferences Ltd (ABECL), India’s leading exhibitions and conferences organizer.
ABECL has established itself as the leading player in the fast growing trade exhibition sector in India. Its portfolio comprises 15 exhibitions consisting of c. 65 events spread across 9 industry verticals, including world-class events such as ACETech. ABECL is also a leader in segments such as Education, Realty and Lifestyle.
Although in its infancy compared to other Asian markets like China and Japan, the Indian trade exhibition market is expected to expand substantially as a result of the country’s rapid GDP growth and its increasingly important role in global trade.
The proceeds from the investment will be used to further expand ABECL’s operations in India and to establish an international presence.
Commenting on the deal, Surendra Mohan Gandhi, Chairman of ABECL, said: “Partnering with QInvest will accelerate our endeavor of institutionalizing ABECL. We are delighted to be working with QInvest to benefit from their experience in helping organizations through this kind of transition. QInvest shares our enthusiasm for the growth opportunity ahead of us. This partnership will greatly benefit all ABECL’s stakeholders and help us deliver the highest standards of service to our customers”.
Shahzad Shahbaz, CEO of QInvest, said: “We are impressed by ABECL’s achievements in the past few years and see tremendous potential for the company in the growing Indian trade exhibition market. We are pleased to partner with the Gandhi family and to support ABECL’s effort on its remarkable growth path”.
“This investment fits well into our strategy of supporting well-managed companies with strong growth potential in the MENASA region, and demonstrates our confidence in the Indian economy and our appetite to deploy capital in the country” added Shahbaz. QInvest will take a seat on ABECL’s Board of Directors.
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About ABECL
Asian Business Exhibition & Conferences Ltd is the largest private sector exhibition organizer in India. Since 1994, the group has been providing its clients with access to global distribution networks through its well-organized and widely-marketed events. Leveraging on its strong relationships with key industry players, government bodies and trade associations, ABECL has been securing business success for its clients by playing a critical role in leading many firms to benchmark themselves against the standards of international players.
In line with its motto “from concept to completion”, ABECL always provides end-to-end marketing solutions keeping its clients at the forefront of market trends, giving them a competitive advantage in their respective industry at all times.
ABECL has a portfolio of 15 exhibitions consisting of c. 65 events spread across 9 industry verticals. ABECL is a leading exhibition organizer in Infrastructure, Education, Realty and Lifestyle segments. ABECL aims to create a world class organization and expand its portfolio of events to various other verticals. www.abcindia.biz
About QInvest
QInvest was licensed by the Qatar Financial Centre Authority in April 2007 and is authorised by the Qatar Financial Centre Regulatory Authority. The Bank has authorized capital of USD 1 billion and paid up capital USD 750 million.
Led by Chairman H.E. Sheikh Jassim Bin Hamad Bin Jabr Al Thani, and Chief Executive Officer Shahzad Shahbaz, QInvest has created a world class investment banking capability operating under Sharia’a compliant structures, with the highest standards of governance and transparency.
The QInvest shareholder structure includes Qatar Islamic Bank and other institutional investors, as well as prominent high net worth individuals from across the region. The platform offers a broad range of expertise which enables QInvest to deliver a high value service to clients, seamlessly covering advisory, financing and investment needs.
QInvest’s business lines include investment banking, investment management, brokerage and wealth management, with dedicated origination and placement teams.
With over 130 staff, including 65 front office professionals, QInvest’s talented team of investment bankers brings a valuable mix of both international experience and regional knowledge, enabling the Firm to pursue opportunities across its chosen markets of the Middle East, Africa, Turkey, South Asia and South-East Asia.
Extending beyond this geographic focus, the firm also pursues opportunistic transactions globally where it identifies high value propositions for clients. www.qinvest.com
For media enquiries, please contact:
Bassel Hanbali, Head of Marketing & Corporate Communications – QInvest
Mobile: +97466542099
Email: bassel.hanbali@qinvest.com
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